Jerome Powell 'has failed,' said Sen. Elizabeth Warren. 'I don't think he should be Chairman of the Federal Reserve.'
"Raising interest rates doesn't do anything to solve" a cost-of-living crisisprimarily by "price gouging, supply chain kinks, [and] the war in Ukraine," Warren said Sunday. "All it does is put millions of people out of work."
Powell, an ex-investment banker, was first appointed by then-President Donald Trump in 2018 and reappointed by Biden in 2021. Warren noted that she opposed Powell's nomination in both cases "because of his views on regulation and what he was already doing to weaken regulation." Asked by Todd if Biden should fire Powell, Warren said: "My views on Jay Powell are well-known at this point. He has had two jobs. One is to deal with monetary policy, one is to deal with regulation. He has failed at both.""I don't think he should be Chairman of the Federal Reserve," the Massachusetts Democrat responded. "I have said it as publicly as I know how to say it. I've said it to everyone.
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